Registered as LoanTap Credit Products Pvt Ltd with the RBI, the startup is, in essence, an NBFC offering unique products and features within the regulatory guidelines, and ensures a fully transparent pricing structure.

“Our plan is to leverage this funding by four to five times to source around $29.1 Mn (INR 200 Cr) from lending institutions, which will be used to lend out to more consumers,” said Satyam.

The company claims to have so far disbursed $14.5 Mn (INR 100 Cr) to more than 5,000 customers and counts 35% of its customers from Bengaluru.

“We lend up to $14.5K (INR 10 Lakh) with an average of $4.3K (INR 3 Lakh) for an average period of around 48 months. We have managed to retain the non-performing asset level to less than 0.35% as of our March balance sheet,” said Kumar.

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Meha has engineering and MBA degrees, but she has always been a writer at heart. It was the perfect combination of utilising her research and analytical skills and her enthusiasm for writing that sparked her interest in writing about the Indian startup ecosystem – the latest tech and gadgets and the startups that create them. She is always on the lookout for industry-specific stories in niche areas of interest such as ecommerce, fintech, greentech and more.